McqMate
1. |
_________ Order to call a EGM even though 1 member present in person or by proxy. |
A. | roc |
B. | c.g |
C. | nclt |
D. | d.c.a |
Answer» B. c.g |
2. |
The time period for conduction of AGM is extended by ROC for how many months |
A. | 1 |
B. | 2 |
C. | 3 |
D. | 4 |
Answer» C. 3 |
3. |
Maximum rate of discount that can be allowed on issue of shares |
A. | 5% |
B. | 10% |
C. | 15% |
D. | 20% |
Answer» B. 10% |
4. |
Liability under_____ sec. may be imposed only if it is proved that the companies business has been carried on with a view to defraud the creditors |
A. | 540 |
B. | 541 |
C. | 542 |
D. | 543 |
Answer» C. 542 |
5. |
The time gap between two AGM’s shall not exceed. |
A. | 15 months |
B. | 18 months |
C. | 16 months |
D. | none of these |
Answer» A. 15 months |
6. |
Age limit of Directors in case of private company is ___________ |
A. | 65 |
B. | 70 |
C. | 75 |
D. | no limit |
Answer» D. no limit |
7. |
Debentures payable to a holder of certificate is called_____ |
A. | bearer |
B. | unregistered |
C. | secured |
D. | both ((a) & ((b) |
Answer» A. bearer |
8. |
Minimum paid up share capital in case of a public company is _____ |
A. | 1 lakh |
B. | 3 lakhs |
C. | 5 lakhs |
D. | 7 lakhs |
Answer» C. 5 lakhs |
9. |
The company must deliver share certificate within______ if the shares applied for transfer. |
A. | 3 months |
B. | 2 months |
C. | 5 months |
D. | none of these |
Answer» B. 2 months |
10. |
The lending of funds ultra vires, the company has no rights |
A. | under the company’s act |
B. | contract act |
C. | under equity |
D. | none of the above |
Answer» A. under the company’s act |
11. |
Share warrants can be issued with the prior approval of the____ |
A. | company law board |
B. | dept of company affairs |
C. | registrar |
D. | none |
Answer» C. registrar |
12. |
Minimum no. of Directors in case of a public company is ___ |
A. | 1 |
B. | 2 |
C. | 3 |
D. | 4 |
Answer» C. 3 |
13. |
Which of the following is not a member of a company? |
A. | partnership firm |
B. | foreigner |
C. | government |
D. | huf |
Answer» A. partnership firm |
14. |
Debentures payable to person whose name appears both on Debenture Certificate and company’s register is called |
A. | bearer |
B. | unregistered |
C. | registered |
D. | none of the above |
Answer» C. registered |
15. |
___ is issued in acknowledgement of any indebtedness |
A. | debenture certificate |
B. | share certificate |
C. | share warrant |
D. | none of the above |
Answer» A. debenture certificate |
16. |
In case of Non -Profit making Companies notice of general meeting should be given with in _____ days |
A. | 14 |
B. | 15 |
C. | 21 |
D. | 22 |
Answer» A. 14 |
17. |
Change in objects clauses can be effected |
A. | for any reason |
B. | for special reason only |
C. | to comply with c.g order |
D. | none of the above |
Answer» B. for special reason only |
18. |
Which of the following is a right of the members of a company_____ |
A. | right to have share |
B. | right appoint auditor |
C. | right appoint director |
D. | all the above |
Answer» D. all the above |
19. |
Which of the following can issue the share warrant |
A. | public |
B. | private |
C. | both (a) & (b) |
D. | none of the above |
Answer» A. public |
20. |
In case of continuing default to convene the AGM fine is Rs.___________ for every day. |
A. | 250 |
B. | 300 |
C. | 350 |
D. | 400 |
Answer» A. 250 |
21. |
Transfer of shares in the case of public company is |
A. | prohibited |
B. | restricted |
C. | freely transferable |
D. | none of these |
Answer» C. freely transferable |
22. |
In the given below who are required to hold A.G.M___________ |
A. | public company |
B. | private company |
C. | government company |
D. | all the three |
Answer» A. public company |
23. |
U/s 274 (f) (g) directors are disqualified for how many________ years. |
A. | 1 |
B. | 3 |
C. | 5 |
D. | 7 |
Answer» C. 5 |
24. |
Where the registrar strikes off the register the name of a company as a defunct one, the court has the power to order restoration of name with in: |
A. | 5 years |
B. | 7 years |
C. | 10 years |
D. | 20 years |
Answer» C. 10 years |
25. |
A share warrant is transferable by ____________ |
A. | by execution of transfer deed |
B. | by delivery |
C. | both (a) and (b) |
D. | none of the above |
Answer» B. by delivery |
26. |
Every AGM must be held with ___ from the date of the Balance Sheet. |
A. | 4 months |
B. | 6 months |
C. | 9 months |
D. | none of these |
Answer» C. 9 months |
27. |
After the expiry of how much time the company must think that the permission was not granted |
A. | 11 weeks |
B. | 12 weeks |
C. | 10 weeks |
D. | none of these |
Answer» C. 10 weeks |
28. |
The resolution passed at AGM are__________ |
A. | valid |
B. | void |
C. | voidable |
D. | void ab-initio |
Answer» A. valid |
29. |
Own funds are called |
A. | debenture capital |
B. | share capital |
C. | loan capital |
D. | none of the above |
Answer» B. share capital |
30. |
If a new company get registered with a name which resembles the name of existing company then it should apply to whom? |
A. | nclt |
B. | sebi |
C. | roc |
D. | none of the above |
Answer» A. nclt |
31. |
In case of red-herring prospectus the refund is made with an interest @_____ |
A. | 12 |
B. | 13 |
C. | 15 |
D. | 16 |
Answer» C. 15 |
32. |
If the guarantee Co. having no share capital the liability of shareholders will be |
A. | to the extent of guarantee |
B. | unpaid value of shares |
C. | unlimited |
D. | none of the above |
Answer» A. to the extent of guarantee |
33. |
First AGM must be held within_____________ from the incorporation of the company |
A. | 15 months |
B. | 18 months |
C. | 12 months |
D. | none of these |
Answer» B. 18 months |
34. |
The doctrine of__________ does not apply to acts void ab initio. |
A. | ultra virus |
B. | intra virus |
C. | constructive notice |
D. | indoor management |
Answer» D. indoor management |
35. |
Cumulative preference share holders have voting right if dividend are in arrears for years |
A. | 1 |
B. | 2 |
C. | 3 |
D. | 4 |
Answer» B. 2 |
36. |
In case of Partly Convertible Debentures non-convertible portion is classified as_____ |
A. | debt |
B. | equity |
C. | both (a) & (b) |
D. | none of the above |
Answer» A. debt |
37. |
Transmission is effected by |
A. | sale |
B. | death |
C. | insolvency |
D. | both (b) & (c) |
Answer» D. both (b) & (c) |
38. |
Which of the following can be used for buy back of shares |
A. | free reserves |
B. | securities premium |
C. | proceeds of fresh issue of shares |
D. | all of the above |
Answer» D. all of the above |
39. |
Deposits should issued with in__________ weeks from the date of receipt of money. |
A. | 2 |
B. | 4 |
C. | 6 |
D. | 8 |
Answer» D. 8 |
40. |
If minimum subscription is not received application money should be refunded with in _____ days |
A. | 20 |
B. | 25 |
C. | 30 |
D. | 10 |
Answer» D. 10 |
41. |
Information memorandum + shelf prospectus together constitutes_____ |
A. | memorandum |
B. | articles |
C. | prospectus |
D. | none of the above |
Answer» C. prospectus |
42. |
In the event of appointing a proxy joint holders shall sign the proxy form |
A. | singularly |
B. | jointly |
C. | none of the above |
D. | both (a) & (b) |
Answer» B. jointly |
43. |
Minimum number of members in case of private company is |
A. | 1 |
B. | 2 |
C. | 3 |
D. | 4 |
Answer» B. 2 |
44. |
Maximum no .of members in case of public company is |
A. | 0 |
B. | unlimited |
C. | 50 |
D. | 100 |
Answer» B. unlimited |
45. |
Ques. The liability of members if company is limited by guarantee. |
A. | unpaid value of shares |
B. | guarantee amount |
C. | unlimited liability |
D. | none of the above |
Answer» B. guarantee amount |
46. |
Which one of the following has a right to claim compensation for any loss due to mis-statement in prospectus |
A. | purchasing shares in primary market |
B. | secondary market |
C. | subscribers to memo |
D. | all the above |
Answer» A. purchasing shares in primary market |
47. |
______ years of imprisonment will be imposed in case of issue of prospectus with untrue statements |
A. | 1 |
B. | 2 |
C. | 3 |
D. | 4 |
Answer» B. 2 |
48. |
The liability of members if company is limited by shares |
A. | unpaid value of shares |
B. | guarantee amount |
C. | unlimited liability |
D. | none of the above |
Answer» A. unpaid value of shares |
49. |
Forfeiture can be made only if it is authorized by ______ |
A. | aoa |
B. | moa |
C. | roc |
D. | c.g |
Answer» B. moa |
50. |
Name of the member is struck off from the register in case of____________ |
A. | issue of share certificate |
B. | share warrant |
C. | forfeiture |
D. | none of the above |
Answer» B. share warrant |
51. |
A company can become a members of another company if it is so authorized by______ |
A. | moa |
B. | aoa |
C. | both (a) & (b) |
D. | none of the above |
Answer» A. moa |
52. |
Validity period of information memorandum is___________ |
A. | 1 year |
B. | 2 years |
C. | 3 years |
D. | 4 years |
Answer» A. 1 year |
53. |
Central Government permission is required in case of_____ conversion____ |
A. | private to public |
B. | public to private |
C. | both (a) or (b) |
D. | none of the above |
Answer» B. public to private |
54. |
Paying back of capital is called |
A. | redemption |
B. | conversion |
C. | participation |
D. | none |
Answer» A. redemption |
55. |
Proxies cannot vote on_________ |
A. | show of hands |
B. | poll |
C. | both (a) & (b) |
D. | none of the above |
Answer» A. show of hands |
56. |
Minimum number of members in case of public company |
A. | 1 |
B. | 2 |
C. | 5 |
D. | 7 |
Answer» D. 7 |
57. |
Minimum no. of Directors in case of private company is __________ |
A. | 1 |
B. | 2 |
C. | 3 |
D. | 4 |
Answer» B. 2 |
58. |
A company is named as govt. company if it is holds_________ % of paid up share capital |
A. | more than 30 |
B. | more than 40 |
C. | more than 50 |
D. | none |
Answer» C. more than 50 |
59. |
_______ % of shares should be held by a company in another company so as to become subsidiary |
A. | more than 50 |
B. | more than 40 |
C. | more than 30 |
D. | more than 20 |
Answer» A. more than 50 |
60. |
In case of Non -Profit making Companies books of accounts are required to be preserved for _____ years |
A. | 2 |
B. | 4 |
C. | 6 |
D. | 8 |
Answer» B. 4 |
61. |
Accepting of deposits from public in case of private company is |
A. | prohibited |
B. | restricted |
C. | acceptable |
D. | none of these |
Answer» A. prohibited |
62. |
Stamp duty on registration of the company is payable based on____________ capital. |
A. | nominal |
B. | authorized |
C. | both (a) & (b) |
D. | none |
Answer» C. both (a) & (b) |
63. |
____ are the shares issued by the company to it employees or directors for consideration other than cash |
A. | bonus |
B. | sweat |
C. | right |
D. | none of the above |
Answer» B. sweat |
64. |
________ resolution should be passed by the company to offer shares to outsiders |
A. | special resolution |
B. | ordinary resolution |
C. | c.g |
D. | none of the above |
Answer» A. special resolution |
65. |
The doctrine of indoor management is an_________ to the doctrine of constructive notice |
A. | exception |
B. | extension |
C. | alternative |
D. | none of the above |
Answer» B. extension |
66. |
Ques. Companies are now allotted a_________ in addition to their name |
A. | PAN |
B. | SIN |
C. | PIN |
D. | CIN |
Answer» D. CIN |
67. |
In how many days did the company have its registered office after incorporation |
A. | 10 |
B. | 20 |
C. | 30 |
D. | 40 |
Answer» C. 30 |
68. |
In the MOA there are 6 clauses. We can alter all clauses expect one clause. What is that clause? |
A. | objects clause |
B. | name clause |
C. | association clause |
D. | none of these |
Answer» C. association clause |
69. |
If any body wants to file a case against the company they should file at what place _____ |
A. | company |
B. | registered office |
C. | bod |
D. | books of accounts |
Answer» B. registered office |
70. |
Ultra vires loans granted by the company are |
A. | void |
B. | voidable |
C. | valid |
D. | none of the above |
Answer» A. void |
71. |
conceives the idea of the business |
A. | promoters |
B. | directors |
C. | auditors |
D. | none of the above |
Answer» A. promoters |
72. |
Company is recognized by _________________ |
A. | Services |
B. | Common Seal |
C. | Directors |
D. | Artificial Person |
Answer» B. Common Seal |
73. |
Company Law disputes are referred to_____________ |
A. | CLB |
B. | NCLT |
C. | NCLAT |
D. | District court |
Answer» B. NCLT |
74. |
One of the feature of Company as _______________ |
A. | Name |
B. | Perpetuity |
C. | Location |
D. | Registration |
Answer» B. Perpetuity |
75. |
_____________ Company can be classified on based control company. |
A. | Public |
B. | Limited |
C. | Registered |
D. | Holding |
Answer» D. Holding |
76. |
Company registered under Sec. 8 as per 2013 amendment can _________ |
A. | Manufacturing |
B. | give services |
C. | not earn profits |
D. | Limit Shares |
Answer» C. not earn profits |
77. |
Company act 2013 have __________ number of sections |
A. | 236 |
B. | 56 |
C. | 470 |
D. | 536 |
Answer» C. 470 |
78. |
Theory which gives explanation to ‘lifting the corporate Veil” is _______ |
A. | Concession theory |
B. | Bracket Theory |
C. | Fiction theory |
D. | Feminist theory |
Answer» B. Bracket Theory |
79. |
Corporate is person ficta ‘fictitious person’ _______________ |
A. | Concession theory |
B. | Bracket Theory |
C. | Fiction theory |
D. | Feminist theory |
Answer» C. Fiction theory |
80. |
Public limited company paid up capital share is Rupees ______________ |
A. | 50,000 |
B. | 5,00,000 |
C. | 1,00,000 |
D. | 1,50,000 |
Answer» B. 5,00,000 |
81. |
Memorandum of Association has ________ clause |
A. | 7 |
B. | 10 |
C. | 12 |
D. | 14 |
Answer» A. 7 |
82. |
Registered address of the company can be reported to registrar maximum within ____________ days. |
A. | 5 |
B. | 30 |
C. | 100 |
D. | 365 |
Answer» B. 30 |
83. |
Retrospective correction can be done, even after execution of action in |
A. | Article of Association, |
B. | Memorandum of Association |
C. | Prospectus, |
D. | Interpretation of Statue |
Answer» A. Article of Association, |
84. |
Company is defined under ____________ |
A. | S.3 (1) (i) |
B. | S.4 |
C. | S.5 |
D. | S.6 |
Answer» A. S.3 (1) (i) |
85. |
Company registered under Company Law is _________ |
A. | Legal Company |
B. | Registered Company |
C. | Chartered Company |
D. | LLP |
Answer» B. Registered Company |
86. |
Private Company is defined under __________ |
A. | S.3 (1) (iii) |
B. | S.3 (1) (iv) |
C. | S.4 |
D. | S.4 (2) |
Answer» A. S.3 (1) (iii) |
87. |
Private Company restricts the number of its members up to _________ |
A. | Two |
B. | Ten |
C. | 20 |
D. | 50 |
Answer» D. 50 |
88. |
Which one of the following statements is true __________ |
A. | Any person can become the member of the company. |
B. | Incorporated Company is a legal person and a citizen also. |
C. | Debenture holders do not have the right to vote. |
D. | All are false. |
Answer» D. All are false. |
89. |
Government Company is defined under ________ |
A. | S.571 |
B. | S.617 |
C. | S.619 |
D. | S.620 |
Answer» B. S.617 |
90. |
Which one of these cases, it was decided that a company incorporated by a single person can also have a separate legal entity ________ |
A. | Solomon v/s. Solomon & Co. |
B. | Ashbury Railway carriage Co. v/s. Riche. |
C. | Foster v/s. Foster. |
D. | Carriage and Iron Co. Ltd v/s. Rich. |
Answer» B. Ashbury Railway carriage Co. v/s. Riche. |
91. |
Which one of these cases, is not related to separate entity of the company ____ |
A. | Oax v/s. Turquand and Harding. |
B. | Solomon v/s. Solomon & Co. |
C. | In Re Kandoli Tea Co. |
D. | Southern Foundaries Ltd. v/s. Shirla. |
Answer» D. Southern Foundaries Ltd. v/s. Shirla. |
92. |
In which one of these cases, the doctrine of ultra vires was laid down ________ |
A. | Ashbury Railway Carriage & Iron Co. Ltd. v/s. Riche. |
B. | Royal British Bank v/s. Turquand. |
C. | Derry v/s. Peek |
D. | Oax v/s. Turquand and Harding. |
Answer» A. Ashbury Railway Carriage & Iron Co. Ltd. v/s. Riche. |
93. |
The doctrine which says company is collective will and has its real psychic existence is based on __________ |
A. | Fiction Theory. |
B. | Realist Theory. |
C. | Bracket Theory. |
D. | Purpose Theory. |
Answer» B. Realist Theory. |
94. |
If direction to change the name of the company is given by the Central Government, the Company must change its name within ______________ |
A. | One month |
B. | Two months |
C. | Three months |
D. | Six months |
Answer» C. Three months |
95. |
Which of the firm must not have Articles of Association? _______________ |
A. | Unlimited Companies, |
B. | Companies limited by guarantee |
C. | Private companies limited by shares must have Articles of Association. |
D. | LLP |
Answer» D. LLP |
96. |
The doctrine of Indoor Management seeks to protect _____________ |
A. | Outsiders against the company. |
B. | Sanctioned by the Registrar of the companies. |
C. | Authorised by Board of Directors. |
D. | Allowed by Memorandum of Association. |
Answer» A. Outsiders against the company. |
97. |
The rule of constructive notice seeks to protect_____________ |
A. | The company against the outsiders. |
B. | Shareholders against the company. |
C. | Outsiders against the company. |
D. | Directors against the outsiders. |
Answer» A. The company against the outsiders. |
98. |
The Prospectus must be issued within ______________ |
A. | 90 days of its registration. |
B. | 60 days of the Certificate of Incorporation. |
C. | 90 days of the Statutory Meeting. |
D. | 60 days of the first Annual General Meeting. |
Answer» A. 90 days of its registration. |
99. |
Every person who knowingly issues a Prospectus without registration, is punishable _______________ |
A. | With fine upto Rs.5000/- |
B. | With fine upto Rs.2000/- |
C. | With fine upto Rs.1000/- |
D. | With fine upto Rs.1000/- and imprisonment upto one month. |
Answer» A. With fine upto Rs.5000/- |
100. |
In case of every company, a meeting of the Board of Directors shall be held at least____________ |
A. | Once a month. |
B. | Once in every two months. |
C. | Once in every three months. |
D. | Once a year. |
Answer» C. Once in every three months. |
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